NEW YORK, June 24, 2019 /PRNewswire/ -- The Alzheimer's Foundation of America, Congressman Tom Suozzi (D-NY3), and Congressman Peter King (R-NY2) announced new bipartisan legislation to help increase federal funding for Alzheimer's disease research. Congressmen Suozzi and King, working with AFA, are sponsoring the legislation to create the Alzheimer's Research and Caregiving (ARC) Trust Fund to provide additional funding to federal Alzheimer's research and caregiver support services.
"I am proud to stand with Congressman Peter King and AFA today in support of this creative legislation. This is a responsibility we all share and something that folks on both sides of the aisle should get behind," said Congressman Suozzi.
"As a member of the Congressional Task Force on Alzheimer's Disease, I support efforts that benefit individuals and families affected by this horrible disease. I am proud to be an original cosponsor of this legislation which will allow voluntary contributions from tax refunds for additional funding for research and caregiving services. I will do all that I can to make sure this measure becomes law," said Congressman King.
"AFA is pleased to work with Congressmen Suozzi and King to provide additional, much-needed funding to combat the Alzheimer's epidemic," said Charles Fuschillo, Jr., AFA's President and CEO. "Funds raised through this legislation will provide hope for the future and support in the present for millions."
Under the legislation, taxpayers could voluntarily contribute to the ARC Trust Fund through their federal income tax returns. Of the funds raised, half would be provided to the National Institutes for Health (NIH) for clinical research into a cure or disease-modifying treatment for Alzheimer's disease and related dementias. The remaining half would fund services and supports for those living with dementia-related illnesses and their caregivers through the Administration for Community Living (ACL).
The ARC Trust Fund would supplement, not supplant, existing federal funding to both NIH and ACL for the fight against Alzheimer's.
The legislation is similar to laws enacted in 30 states allowing taxpayers to contribute to different causes through their tax returns. Federal tax returns also allow taxpayers to contribute to the Presidential Election Campaign Fund to help finance political campaigns.
Alzheimer's is the sixth leading cause of death in the United States and the only one in the top 10 without a cure or disease-modifying treatment. More than 5 million Americans are living with Alzheimer's disease.
SOURCE Alzheimer's Foundation of America